Date: 03/22/2000 8:31 AM
Subject: Proposed Regulation FD
As a retiree (US Armed Forces and Aerospace) and a personal investor, I have
taken responsibility for the funding of my own retirement, making my way by
investing in sound companies with good to exciting futures, and hanging on
for the ride. I do not listen to financial analysts, rather I do my own
research.
Any system that preserves selective disclosure is unfair in the extreme.
Such a system tends to force me to go to an intermediary, who has no
responsibility for my success, to determine if I should establish an
investment partnership with a stock-issuing company.
That intermediary, the financial analyst, can select any approach he chooses
to maximize his profit and the profit of his associates, the company
executives who are disclosing to him alone. He can withhold, release or
selectively manipulate that privately disclosed information, regardless of
its effect on my investment plans.
Selective disclosure, in effect, unfairly gives them substantial ownership
of my money if I invest in that company. In fact, the effect is the same
whether I have come to the investment decision privately or with their
contribution.
I encourage the SEC to eliminate this unfair practice.
Sanford D. Cook
1488 Smith Street
San Luis Obispo CA 93401